“Summer
is a time of peak employment in the primary industries of tourism, farming and
fishing that underpin our economy. So learning that the Island economy lost 800
jobs in July is disappointing. Even more so when the longer term trend shows a
loss of 2300 jobs since October,”
says Lantz.

Lantz
pointed out that provincial budget passed last month is based on aggressive
projections for economic growth and that this trend may jeopardize the accuracy
of those budget projections.

“The
provincial budget is relying heavily on growth to lower the deficit, an approach
bond rating agencies have expressed caution about. These latest job numbers
don’t reflect the impact of a series of budget cuts to the non-profit sector so
this trend of negative job growth may yet continue,”
says Lantz.

Island workers and communities are missing out on economic opportunities from the federal shipbuilding projects and other contracts due to ongoing inaction from the provincial government to.... see more